Reuters: Huawei Sells Honor to Consortium of Companies Led by Digital China for $ 15B

In early October, we wrote that Huawei is considering selling the Honor division, and now in

details of the deal appeared on the network.

What is known

According to the report of the news agencyReuters, Huawei is selling Honor to a consortium of companies led by the Digital China Group and the government of the Chinese city of Shenzhen. The deal is rumored to be worth 100 billion yuan. This is approximately $ 15.2 billion.

By the way, Digital China is a long-time partner of Huawei and,and the largest distributor of Honor devices. At one time, the company was founded by Legend Holdings, which in 2001 was renamed Lenovo. At the same time, Digital China split from Lenovo and became independent.

Selling Honor will help Huawei recover some of the costs. In addition, such a decision will allow the brand to continue to exist on the market without falling under US sanctions.

Source: Reuters

Photo: 9to5Google

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